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<br /> The Fw�ds shall be hcld in un institutiun wlwse deposits ure insurcd by a fcderal�ugency, �nstrunxnzality, or cutity
<br /> (inchiding I..eixicr,if I.ettder i�such an institutiiin)ar in uny FcdFral Huntc I.oan Bank. l.cndcr shall apply the Funds t��p:►y�I�e
<br /> [:scruw Il�ms.Lc�xlcr muyr��?t rhargc E3��rrowcr for holding und applying thc Fu�xis,unnually rmalycing thc cscrow ucc��wit,ur
<br /> vcrifying Ih� f:�cmw Itcros, wilesy l,c�xlcr pay.Fi�►rrowcr intcrc,t un thc FunJs s►i�l upplicublc I�w�xrmits l.cncicr tu m:►kc such
<br /> n cliarg�.H•iwevcr, I.endcr may rcquire I3urrawcr tu pay a unc-timc charg� fur an indcpcndcnt rwl ratatc tax r��x��•ting �,crvirc
<br /> usc�l by I.eudcr i❑ runncc�iun with �his lo�n. unless upplicablc law pruv�dcs atlErrwisc. Unlcss un ;�grrenxnt is ma�le or
<br /> �ipplicahlc luw riyuirc+intrn:st tu hc puiJ. Lcndcr shull not tx rcyuirc�! tu pay l3+irruwc�•ui�y interest ur carnings on thc 1'u�xl+.
<br /> Hurrowcr nnd l.ciHlcr mi►y ugrec in wrUing, huwcvcr, that intcrest sl�all bc paid m�tlic Fwxl�. 1.A�xlcr sh:►II givc tu lkirruwcr.
<br /> without chargr„ an unnuul urc��unting of tlic Fwids, showing cr��Jits luxl cicbfts to Ihc FunJs und tlic pur�xi,c far which c;kh
<br /> dcbit��� thc Fwxlti wus m:icle. Thc Funcis ure p(c�lgcd ur aJdidunal security fi�rall su�nti se�urc�t by�his Secunty Instrumcnt.
<br /> If dic 1=wxls held hy l.�ndcr cxcced the umuumr pc:rmitted to bc lield E�y upplicahlc la�v,Lc�xicr shall ac�uurt [u&rrrower
<br /> for tlu excctis Fu�xts in:►ccorJunrc witl�thc rrquirr�tw:nts of upplicablc law. If thc amoun�of thc Fuixl,l�rld Q�y i.�;ixler::t uuy ��
<br /> timc i+ n�N sufficient to pay the�scrow Items when Jue, l.ender may so noeify Borcuwer in writing,mxf, in�uch ca�e E3urrower
<br /> shull pay io Le�xler the iuiwunt necessary tu make up tlte dePtci�ncy. l3orrower shall make up the detcirncy in no nwrc than
<br /> twelvc�nonthly paynxnts,ut Lrn�icr's sulc Jiscrctinn.
<br /> Upon paynxnt in i'ull �f ull sums secured by this Security Instrum�nt, l.ender shall prumpdy rcfuud tu &�rruwer any
<br /> �unds held h�y Lc�xfcr. If,undcr p:,rugraph 21. LcnJer shall acyaire ar scll thc Property. l.cnder, pnc�r to the ucyuisitian or wite
<br /> uf thc Property. slmll apply any Funds hcld by l.cndcr ut thc timc of acquisition or salc as u crcdit a�aimt thc �ums sccur��l by
<br /> thiti Security Instrument.
<br /> 3. Applicotlun of Pyyments.Unless upplic:ible law pruvidES otherwise,all payments received by Lerufer under psragraphy
<br /> l a�x1? �hall hc applicd: first, to any prepayment chargcs duc urxier thc Note; second. to nmounts payablc uncicr paragraph 2:
<br /> third,to imcrest due;fourth, tn p�incipal due: ai�d last,to any late churges due under the Note.
<br /> 4. Chs�rg�y;l.tc�u. Borruwcr shall pay sll taxcs,usxssmcnts,charges.tincs acxi impositions attributublc w thc Propcny
<br /> whicli may �ttuin priority ovcr this Security Instrument, and Icasehold pxymcnts vr ground rents, if any. Borrower shall pay
<br /> thcsc ubligations in thc manner provided in paragraph 2,or if not paid in that manner.&vrower shall pay thcm on time dircctfy
<br /> to the pennri owcd payntent. �3orrower shall prompdy furnish to L�:nder all notic�s�'f�mounts to be paid undcr this paragruph. _
<br /> If Borro�•tr makes thesc payruaents dircetly.Borrower shall promptly furnish to Lenal�reccipts evidencing thc pa)'nients.
<br /> sorrower shall prompt0�•dischar�e�ny lien w6ich has priority over this Secucie��lnstniment unless E3orn�a�,r: (a1 agrees in
<br /> writing tolhe payment of the obligation secured by thc licn io u manncr acceptablc to Lender,(b)contests in bcxxi faith thc lien
<br /> by, or defends against enforcement of the lien in, legal procecdings which in the Lender's opinion operute to prevent thc
<br /> enforcenxnt of the lien: or(rl�ecures from the holder of the lien an agreement satisfecWry to Lender subordinating the lien to
<br /> this Sccurity Instrument. If Il,tnder determines that any pan of the Praperty is subj�rt to a lien which may att�in priority over
<br /> this Sccunty Instrument. Lcndcr may give Borruwer a notice identifying thc lien.�nrcower shall satisfy ihe lien ur takc one or
<br /> more of�he actions set forth abuve within l0 days of the giving of nouce.
<br /> S. H��,xod a• Property Insurance. Borrower shall kcep the irnprovements now existing or hercafter erected on the
<br /> Property insunz�against loss by fire, hazards included within thc tcrm"extendul cavcragc"and any other ha•r.ards, includi�zg
<br /> floads ur tlooding, for whicfi Lcnder requires insurance. This insurancc shall be maintained in thc amounts and far thc perin,is
<br /> that Lender requires. Tt�e in:surunce carrier providing the insurance shall be chosen by Borrower subject to Lender's approvul
<br /> �ti=�h �;�;�i� :;�i � ��.,�r�c.`,,,•_,fity wirhheld. If Borrower fuils to maintain cavc:rlcF alcscribed above. Lcnder ntap, at I.ender's
<br /> optian, ubtain coverage to�rotect Lender's rights in the Property in accordance «�ith Paragraph 7.
<br /> All insurance policies and renewal� shall be acceptable to Lender and shall include a standard mortga�:clause. I..cndeT
<br /> sh:►II huve the right to huld the pi�licies and renewals. If Lender requires.Borro��•er shall prompcGy gi�•e to Lentler all receipts of
<br /> paid premiums�nd renew�l notices.In thc event of loss, Borrower ahall give pronipt notice to ct��anss�nince carrier and Le�xter.
<br /> Le►�der nuy make praof of loss if not made pro»>ptly by Borro�ver.
<br /> Unless Lender anci Borrower otherwise agree in�.�riting, insuranre procecYis�hall b�applied to restoratian or repair of the
<br /> Property damaged, if the restoration or repair is economically feasible and Lender s szcurity is not Iessened.If the restoration or
<br /> repair is noc economically feasible ur i.ender's security wuulJ be lesx:ne�cf, the inaurance prcxeeds sludl be applieei tu the aums
<br /> secured by this Security Instrument, whether or not then due, with any eutiss paid to Borrower. If Borruwer abandons the
<br /> property,ar does not an.cNer within 30 days a notice from Leixler that the i�curanec eurrier hus offered to settle a claim,then
<br /> Lcnder may collect the insurance procr.eds. Lender may use the proceecis ta e.;;Euur or restore the Propeny or to pay sums
<br /> secured by this Security Instrument,whether or not then due.'ihe 30-day pericvci»a�:l begin wlien the notice is given.
<br /> Unless Lender and Borrower othenvise agree in �vriting, any applicxti��n of procceds to principal shall not extend or
<br /> postpone the due date of the monthly payim:nts refen��i to in p�c�_*aphs l and?. or change the amount of the payments. [f
<br /> urtder p:u�caph 21 the Property is acquired by Lender, Bormwer's nght to any insurattce policies and proeeeds msulting from
<br /> d�magc to thc Property prior to thc ncyu�sition shall pass to L.ender tu the�xtent of the�ums se4:urcJ by this Security Instrument
<br /> immediately prior to the acquisition. ,
<br /> 6. Occu{wncy, I'reservadon.MatntenAnce�nd Prutectlon of the Property;Borrower s Loan Appli�cation; Ixaseholds.
<br /> Bormwer shall occupy.establish,and use the Property as Borrower's principal residence within sixty days;�tter the extxutian of
<br /> this Sccuriry Instrument and shall continac to �xcupy the Propeny�s Borrower's principal res:�)�-xe for at Ieast one year after
<br /> the date of uccupancy, ��nles,Lender othenvise agrees in writing, which consent sh•rll nut be an�c:�.sanably withheld, or unless
<br /> extcnuating circumstancw exist which an beyond Borrower's control. Borrower sha[I not destroy, damage or impair the
<br /> Properiy,ailow thc Property to dcterioratc, or commit �vastc on the Property. �ttower shall be in dcfi�u4t if any fortoiture
<br /> action ar proceeding, whether civil or cr.minal,is begun that in C.ender's goad t::�a:h judgment could result in forfeiture of the
<br /> Property or utherwise materiaQy impair the lien createci by this Security[nstrum:e•i�:or Lender's security interest.$orcower may
<br /> cum such a default and minst:tte,as providecl in paragraph 18,by cau�ing the actian or prucecding lu lx dismissed with a ruling
<br /> that, in Le�nler's good faith detcnninatian, precludcs forfciturc of thc Borruacr's interest in thc Praperty or othcr matcrial
<br /> impairrnernc ��f the lien cre:tt�tii by this Sr.curiry Instrument or Lender's securit}� interest. Borrower tihaU also be in default if
<br /> Bonower, ,3uring the loan applicatiun prcxesa,gave materially false or inarcurste inforniation or statements w Lender(or failed
<br /> tu provide Lender with any material i�fomt�tion) in connection with thc loan evi�:nced by the Notc, includim�,but not(imit�Y1
<br /> to,i�eprese�t;ations coneermn�&�rrower'�occupancy of the Pro{xrty us a princird9 tC51c�ClICC. If this 5ecuritp Instrument is un a
<br /> teascliald, �arrow�r shall romply with all thc provisiuns of the leasc. If Borrower acquire� fce title to thc Property. tlie
<br /> le;isehold an3 thc fee title shall not merge unless Lc�xier agr��cs to the merger in writing.
<br /> ?.Nrotection oP Lcnder's ltights in the Property.If liorrowcr Eai�s to perform the covert•�.^.ts and•wgncments cvntaineci in
<br /> this Security Instrument,ur thece is a Iegal praceeding that may signific:uidy affect Lencier's ri�hts in the Property (such as a
<br /> procc�•ding in bankruptcy,probate, for�ondcmnation or forfciturc or to enforcc laws ur regulativns),then Lender may do and
<br /> Q:iy for whatcver is ncccssary to protect the value of thc Property and Le:ndcr's rights in thc ProNerty. L.cnder's actions may
<br /> �nclu�ie payiug any sums secured by a lien which has prionty over this Securiry Instrument, appearing in court, paying
<br /> reasonablc attorncys' fees:tnd cntering an the Property to makc rcpairs.Althou@h Lendcr may take action undcr this paragraph
<br /> ,.
<br /> � /.U:flUff UVCJ�NL II:IVC iV VV Jv. �
<br /> Any umuunts disbursed by Lender under this parsgraph 7 shall lkcome .idditional dcbt of Burr�i��•cr �ecur�Yi by� this
<br /> Secw•ity IrL,trument. Unless Bornnvrr and Lender agne to uthcr terms uf paymcnt. thesc amo�nt5 tiliall bc:rr interc�t Prom the
<br /> dutc of disbuncment at the Nute ratc �nd shall bc payablc, with interest.u�wn nuticc from Lcndcr tu Burro�ver rryucsting
<br /> p:ryment.
<br />- 8.liortgage Insurance.tf Lender rcquir��J murtgagc insurnncc as a con�iliun ot'nr�king the loan srcurcd by thi,Sccurity
<br /> Instrumcnt. Uorrou•rr �hall pay thc prcmiums rcyuircd to maintain ehc murtgagc intiurancc in effcct. If, fur any rcatiuu, tlm
<br /> mort�!agc insurance c�rvcn►gr required by L�ndcr lap�es ur ccascs ro hc i�i efFeci. Burruwcr+h:tll p:ry thc prrrniwrn rcyuir�Yl to
<br /> ubtain rnveragc,uh.tantially cyuivalent w thR nwrtgagc in�urancc previuusly in effect. at a c��tit+ubstantially eyuivalent ro the
<br /> cost to I�rruwer uf tlie mongage insurance prcviously in effect, fr��m sn altemcuc mungagc in,urer .�rnr�,����1 In• Lcn�er. If
<br /> �„�01„�d Form 3028 9/90
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